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Canadian housing starts dropped 16% in August, with urban starts up slightly year-over-year.
Housing starts in Canada fell 16% in August compared to July, with the seasonally adjusted annual rate dropping to 245,791 units from 293,537, according to CMHC.
Starts in urban areas with 10,000 or more residents declined to 223,728, while rural starts were estimated at 22,063.
The six-month moving average rose 1.6% to 267,259 units.
Actual starts in urban centres totaled 18,408 in August, up from 16,775 in August 2024.
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Las nuevas viviendas canadienses cayeron un 16% en agosto, con nuevas viviendas urbanas aumentando ligeramente año tras año.